Masimo Corporation (NASDAQ: MASI) stock fell -4.68% on Tuesday to $155.24 against a previous-day closing price of $162.87. With 0.63 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.37 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $161.79 whereas the lowest price it dropped to was $155.10. The 52-week range on MASI shows that it touched its highest point at $198.00 and its lowest point at $108.89 during that stretch. It currently has a 1-year price target of $195.43. Beta for the stock currently stands at 0.88.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MASI was down-trending over the past week, with a drop of -8.89%, but this was down by -20.82% over a month. Three-month performance dropped to -6.57% while six-month performance rose 9.74%. The stock gained 9.92% in the past year, while it has gained 4.93% so far this year. A look at the trailing 12-month EPS for MASI yields 2.18 with Next year EPS estimates of 5.40. For the next quarter, that number is 0.95. This implies an EPS growth rate of -34.70% for this year and 13.68% for next year. EPS is expected to grow by 11.90% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -6.50%.
Float and Shares Shorts:
At present, 52.60 million MASI shares are outstanding with a float of 48.15 million shares on hand for trading. On Apr 27, 2023, short shares totaled 0.87 million, which was 1.64% higher than short shares on Mar 30, 2023. In addition to Mr. Joseph E. Kiani as the firm’s Founder, CEO & Chairman, Mr. Micah Young serves as its Exec. VP & CFO.
Institutional Ownership:
Through their ownership of 86.04% of MASI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 47.64% of MASI, in contrast to 37.89% held by mutual funds. Shares owned by individuals account for 11.11%. As the largest shareholder in MASI with 10.80% of the stake, Fidelity Management & Research Co holds 5,680,079 shares worth 5,680,079. A second-largest stockholder of MASI, The Vanguard Group, Inc., holds 4,748,218 shares, controlling over 9.03% of the firm’s shares. Politan Capital Management LP is the third largest shareholder in MASI, holding 4,713,518 shares or 8.96% stake. With a 2.87% stake in MASI, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 1,509,078 shares are owned by the mutual fund manager. The Fidelity Select Medical Technolog, which owns about 2.85% of MASI stock, is the second-largest Mutual Fund holder. It holds 1,500,000 shares valued at 283.71 million. Vanguard Total Stock Market ETF holds 2.79% of the stake in MASI, owning 1,468,169 shares worth 277.69 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 31, 2023, MASI reported revenue of $565.30M and operating income of $22.10M. The EBITDA in the recently reported quarter was $22.10M and diluted EPS was $0.33.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MASI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MASI analysts setting a high price target of $213.00 and a low target of $150.00, the average target price over the next 12 months is $195.43. Based on these targets, MASI could surge 37.21% to reach the target high and fall by -3.38% to reach the target low. Reaching the average price target will result in a growth of 25.89% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded MASI stock several times over the past three months with 6 Buys and 6 Sells. In these transactions, 117,976 shares were bought while 82,450 shares were sold. The number of buy transactions has increased to 21 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 168,482 while 82,450 shares were sold.
